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The Ripple management is influencing the fate of almost all altcoins with its fight against the SEC. The end of the lawsuit is now approaching, and we will see if the legal pressure will be lifted after the mass appeals. However, things are not going well in the short term. The denial of the BlackRock news eroded prices with significant sell-offs.
XRP Coin Reviews
Since the beginning of the year, the XRP Coin price has been rising along the ascending support trend line. In 2023, the price regained the important horizontal resistance area of $0.55 and reached a peak of $0.94. After surpassing the $0.75 resistance following the BlackRock incident, the price retraced to the $0.65 support. With the ongoing decline in BTC price, it dipped below the $0.65 supply area. If the closures below the critical resistance continue, the resistance may strengthen again.
So, what do popular experts think about the XRP Coin price? TonythebullBTC expects a strong rally and says the following:
“Just by looking at this, I have to switch to a bullish expectation in XRP. BBW is the second tightest so far, %B is above 0.5, which indicates a bullish price movement, and the price has moved outside the upper Bollinger Band. This is definitely a buying opportunity.”
Analyst Cryptoes_ta also mentioned that the bullish expectation continues as long as the $0.6 level is maintained. However, Naveed Ahmad said that the recent decline has cast doubt on the medium-term rally.
XRP Coin Price Prediction
The good news is that on October 19th, the price broke free from the declining resistance trend line. The trend line that had remained in place for 98 days was significantly hindering price increase. After the breakout, the XRP price faced rejection from the 0.618 Fib retracement resistance level on November 13th, and this triggered some selling pressure. For now, the technical outlook is favorable for an uptrend, but buyers need to be supported with good news.
No significant developments are expected in the short term regarding the lawsuit. The Ripple management may make some statements about the company’s IPO after the lawsuit. Or we may see a few positive remarks about XRP Coin when the BlackRock CEO talks about the fake ETF news.
The daily RSI is weak, and if buyers regain strength, the previous bullish divergence may continue. A close below $0.6 can test $0.5.
